The State Bank of Pakistan (SBP) has issued the foreign exchange rates for September 23, 2022, providing insight into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
These rates, based on the weighted average rates of commercial banks, are crucial indicators for businesses, investors, and individuals involved in international trade and financial transactions.
The SBP reiterated that the data is compiled and disseminated exclusively for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, serving as a foundation for commercial transactions. In turn, commercial banks provide indicative exchange rates to facilitate seamless financial dealings with their customers.
As of September 23, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 65.2805 PKR
• Selling: 65.3855 PKR
2. Australian Dollar (AUD)
• Buying: 158.6255 PKR
• Selling: 158.8922 PKR
3. Canadian Dollar (CAD)
• Buying: 177.5197 PKR
• Selling: 177.8097 PKR
4. Swiss Franc (CHF)
• Buying: 244.8601 PKR
• Selling: 245.2626 PKR
5. Chinese Yuan (CNY)
• Buying: 33.7680 PKR
• Selling: 33.8206 PKR
6. Euro (EUR)
• Buying: 235.1932 PKR
• Selling: 235.6044 PKR
7. UK Pound (GBP)
• Buying: 268.9315 PKR
• Selling: 269.3869 PKR
8. Japanese Yen (JPY)
• Buying: 1.6845 PKR
• Selling: 1.6874 PKR
9. Saudi Riyal (SAR)
• Buying: 63.6928 PKR
• Selling: 63.8014 PKR
10. US Dollar (USD)
• Buying: 239.6060 PKR
• Selling: 240.0221 PKR
These exchange rates are instrumental for businesses involved in international trade, influencing the cost of imported goods and the revenue generated from exports. Individuals engaged in foreign investments and travel also depend on these rates to make informed financial decisions.
The SBP advises market participants to exercise caution and stay informed about the latest developments in the foreign exchange market. As the global economic landscape continues to evolve, the central bank remains dedicated to ensuring transparency and providing timely information to support the stability of the national currency and foster economic growth.
Market participants are urged to regularly monitor these rates, as they are subject to fluctuations based on international economic trends and geopolitical events. The SBP will continue to closely observe market conditions and make necessary adjustments to promote a resilient and robust foreign exchange market in Pakistan.
